I have 5,000....I want to invest into a CD account.....?

Question

This would be my first CD account.......First of all, I'm nervous about "locking away" that amount of money....So I would like some access to withdrawl.......I want it to be low risk......

I know nothing about CD's BUT from what I've gathered there are better options than what my bank offers (BoA).....

Thanks for advice!!!

Answer 1

invest in bond mutual funds as open end

Answer 2

CD is not worthwhile, especially if you want easy access to your money.

Today, CD rates are less than 4% a year. That means, for $5,000, you'll get less than $200 in a year. You'll save more money just be being more careful.

Keep your money to yourself and save it wisely. No need to use CD if you're not comfortable.